02-12-2022, 03:33 PM
- China’s largest chipmaker Semiconductor Manufacturing International Corporation reported record revenue and a surge in profit last year.
- That record performance came despite SMIC being put on a U.S. trade blacklist called the Entity List in 2020.
- SMIC is also continuing to invest heavily and the company said that it plans to spend $5 billion in capital as it tries to get three new plants off the ground.
![[Image: 106059254-1564982582811gettyimages-17219...=740&h=416]](https://image.cnbcfm.com/api/v1/image/106059254-1564982582811gettyimages-172196415.jpeg?v=1623050305&w=740&h=416)
China’s largest chipmaker Semiconductor Manufacturing International Corporation reported record revenue and a surge in profit last year amid a global chip shortage but strong demand.
SMIC recorded 2021 revenue of $5.44 billion up 39% year-on-year, the fastest growth rate since 2010. Profit came in at $1.7 billion marking a 138% year-on-year rise.
That record performance came despite SMIC being put on a U.S. trade blacklist called the Entity List in 2020.
- More -